DGAP-Adhoc

Marenave Schiffahrts AG: Extension of the reduced repayment rates

Marenave Schiffahrts AG / Key word(s): Miscellaneous

01.07.2016 13:10

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Extension of the reduced repayment rates

The Agreement with the bank consortium ("bank consortium") financing
Marenave Schiffahrts AG's eight product tanker and container shipping
companies ("single ship companies") to extend the repayment structure
agreed in the restructuring agreement (Sanierungsvereinbarung) dated 24
April 2013 and its amendments announced in an ad-hoc-announcement on 15
February 2016 has expired at midnight yesterday.

In light of the ongoing restructuring negotiations the bank consortium has
agreed to only seriously demand payment from the single ship companies of
the amounts due under the respective ship financing loans, to the extent
the respective single ship companies actually have the financial capacity
to make such payments in light of their revenue situation and the liquidity
accumulated until the relevant due dates. The quarterly minimum repayment
amount per single ship company shall, however, amount to at least USD
100,000.

The Management Board


01.07.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap.de

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Language: English
Company: Marenave Schiffahrts AG
Caffamacherreihe 7
20355 Hamburg
Germany
Phone: 040 / 28 41 93 0
Fax: 040 / 28 41 93 297
E-mail: [e-mail]
Internet: www.marenave.com
ISIN: DE000A0H1GY2
WKN: A0H1GY
Listed: Regulated Market in Hamburg; Regulated Unofficial Market in
Berlin, Munich; Open Market in Frankfurt

End of Announcement DGAP News-Service

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